How Wall Street Analysts Viewed Schlumberger on August 31
Target price for Schlumberger
In the final article of this series, we’ll look at Wall Street’s recommendations for Schlumberger (SLB). SLB comprises 0.2% of the SPDR S&P 500 ETF (SPY). SPY tracks the price and yield performance of the S&P 500 Index (SPX-INDEX), which has risen 10% since the start of 2017 versus a 24% fall in SLB’s stock price.
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Analysts’ ratings for Schlumberger
On August 31, 2017, 72% of the analysts tracking Schlumberger rated it as a “buy” or some equivalent. Approximately 28% of these analysts rated SLB as a “hold.” No analysts rated SLB stock as a “sell.”
According to data compiled by Reuters, 88% of the sell-side analysts tracking NCS Multistage Holdings (NCSM) rated it as a “buy” or some equivalent on August 31, 2017, while 12% rated it as a “hold.”
Analysts’ rating changes for SLB
From May 31, 2017, to August 31, 2017, the percentage of analysts recommending a “buy” or some equivalent for SLB has decreased from 80% to 72%. Analysts’ “hold” recommendations have increased for SLB during the same period. A year ago, 80% of the sell-side analysts recommended a “buy” for SLB.
Analysts’ target prices for Schlumberger and its peers
Wall Street analysts’ mean target price for SLB on August 31 was ~$78.40. SLB is currently trading at ~$63.50, implying an ~23% upside at its current mean price. In July 2017, analysts’ average target price for SLB was $78.60.
The mean target price surveyed among the sell-side analysts for Oceaneering International (OII) is $27.40. OII is currently trading at ~$22.60, implying an ~22% upside to its mean target price.
The mean target price surveyed among the sell-side analysts for Oil States International (OIS) is $28.20. OIS is currently trading at ~$21.80, implying a 30% upside to its mean target price.
You can learn more about the OFS industry in The Oilfield Equipment and Services Industry: A Primer.